Jerry and Elaine visit Jerry's parents Morty and Helen in Florida, where they will attend a ceremony honoring Morty as outgoing condo association president of the Seinfelds' retirement community, and go scuba diving. Jerry fends off his parents' insistence on yielding their car and bedroom to them, while covertly explaining why he and Elaine broke up.
Jack Klompus, who will emcee the ceremony, arrives with his wife Doris to settle the check for a group dinner, down to the penny. Jerry admires Jack's astronaut pen, and Jack aggressively pushes the pen on Jerry, who refuses out of courtesy but is happy to accept. The next day, gossip about Jerry taking Jack's much-flaunted pen has spread through the condo, obliging Jerry to return the pen. As a result, Morty explosively confronts Jack over his history of penny-pinching at Morty's expense.
The Seinfelds' uncomfortable sofa bed causes Elaine excruciating back pain after a sleepless night in stifling heat, which Jerry tries to ameliorate by downplaying the length of their stay. Jerry goes diving alone, and returns with eye hemorrhages caused by mask squeeze. At the ceremony that night, Jerry wears sunglasses, while Elaine takes too many muscle relaxants, becoming giddy and disinhibited. They meet Jerry's Uncle Leo and his wife Stella, causing Elaine to spontaneously holler her name, imitating Marlon Brando in A Streetcar Named Desire. Jack, emceeing, viciously roasts Morty's tenure and competence. Morty is provoked into a tussle where he breaks Jack's dental plate. Jerry tries to distract the crowd with comedy, but the assembled retirees fail to appreciate his jokes.
A chiropractor advises Elaine against travel for five more days, to her chagrin, and Jerry is forced to stay to share in her predicament. Meanwhile, Morty, also debilitated after using the sofa bed, must contend with a lawsuit from Jack, and condo-board politicking to avoid expulsion from the community.